House prices levelling off

HOUSE prices are levelling off after seven years of rapid growth, according to new figures from one of the country's largest mortgage lenders.

House prices nationally rose by just 0.5% last month, according to the permanent tsb/ESRI house price index, compared with a rise of 1.5% in September last year.

Last month was the third consecutive month of relatively flat price increases and a further moderation is expected in the coming months.